360incentives lands $7.65M in funding round led by OMERS Ventures

Whitby, Ont. based software as a service company 360incentives.com has closed a $7.65-million financing round led by OMERS Ventures, it said Tuesday.

The four-year old company runs a software platform for manufacturers to manage their incentive programs such as promotions and rebates and works with more than 75 global manufacturing clients, it said in a news release.

Joining OMERS Ventures (the venture capital arm of the Ontario Municipal Employees System pension plan) in the funding round are Klass Capital and Round 13 Capital, both based in Toronto.

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360incentives, which was named one of Deloitte’s ‘companies to watch’ in the audit and consulting firm’s annual Technology Fast 50 list for Canada in November, has not previously announced any venture backing.

Founder and CEO Jason Atkins said he plans to use the funding to “further develop our technology platform and address new markets.”

The company has about 60 employees and two small secondary offices in Annapolis, Maryland and Los Angeles.

It charges clients a fee of $1.25 per transaction as well as a monthly rate for internal users to manage the platform, which can also handle claim tracking and auditing and tax reporting.